Hello all!
So I recently decided it's time to tackle my credit file and get it back on track. As I'm sure many could agree for themselves, I was young and irresponsible at times and can now manage money much better despite my file.
It seems most the the baddies have fallen off for me and only 2 things remain, pending EQ's report, via snail mail, in a couple weeks. I have a WF secured CC account closed (paid, closed) and 1 open collections. I have, unfortunately, paid the collection off in full this weekend ($1173) before learning that you can request they remove it from the file in return for payment. It seems i'm at their mercy now... falls off 2024 i believe.
But that's it... the rest is naked. No open accounts, no debt, no anything really. I can't even get Fico scores to populate from lack of accounts and history, etc. At 43 it's like i'm starting over. Never thought it needed tending really. Oh well, moving on.
So this weekend I decided to open a secured Discovery (1k CL) and a secured Capital One (500 CL), to get some accounts flowing in the positive and get a payment history flowing. My plans are to use AZEO method with Discovery being the daily driver and Capital One coming off the bench here and there to maintain open account (and no balance).
Questions/Advice:
I plan to keep utilization under 10% (and was shooting for 5% actually). Anyone disagree?
Also, if i pay off anything charge on CC's before the end of the billing cycle each month, will that report as though the card isn't being used at all when they snapshot the account for the bureau's? More specifically, is a balance necessary to show payments on time being recorded?
Any thought seeds you want to plant for me to ponder is welcome!
Thanks for the read and i'll keep you posted,
PicoFico
edit:
Also, how are members adding their scores to there signatures? Are they edited manually or polling from somewhere somehow?
Thanks again 
Sounds like a good plan to me. At some point you will want to add an installment loan and another card, but that can wait until you get scores. You could look into the self lender option for the loan.
to add a sig,take a look at
https://ficoforums.myfico.com/t5/SmorgasBoard/Badges-for-Your-Signature/td-p/5257198
@dynamicvb wrote:Sounds like a good plan to me. At some point you will want to add an installment loan and another card, but that can wait until you get scores. You could look into the self lender option for the loan.
to add a sig,take a look at
https://ficoforums.myfico.com/t5/SmorgasBoard/Badges-for-Your-Signature/td-p/5257198
Can you think of a reason one would choose SL, as opposed to CU SSL? I may have an in at NFCU... also notice a local CU does SSL as well, but don't have much for details on the arrangement until i can call or stop in.
Doesn’t matter where the loan comes from just so it’s an installment loan and they report to all 3 CRAs. The only important thing for the scores is that it satisfies the credit mix requirement.
First update:
A bit of a learning experience here...
On April 2nd, I discovered I had fraudulent activity on a checking account of mine. I'll save you the details but the part to retain that i'm trying to make aware to the .000001% of the population that might be affected is this: I had a hard hold put on a checking account for what I thought were any current or future checks written to that account, which, actually was the case, but...
5/21/19 - I noticed that Discover hadn't taken it's funds for my secured card yet, so I called to inquire about that. They informed me that they tried to pull funds via ACH on the 20th and it didn't go through. I was advised to call my bank.
I called WF and asked what might be the hold up and they told me the hard hold also affects ACH in addition to paper checks as well. I thought that was strange because another account that also has checking capapbilities, of which, I also put a hard hold on, has some ACH transactions coming through.
I called Discover back and explained the scenario and that the hold was lifted so they could run it again. Their back end threw up some error and I had to fill out a new application. The second application returned denied. I called back in and they were able to do whatever it was on the back end to approve it, but I incurred another HP!
boo/hiss...
I called WF's back to get to the bottom of why 1 of 2 accounts, both with holds, that one could pass ACH and another couldn't. After about 4 hours of holding and department transfers, I learned that existing ACH transfers will maintain after a hold is placed but new ones will be turned away. Also, if you're expecting an ACH transfer, while having a hold placed, you can call in advance about which merchant(s) will be coming in to allow passage of transfer.
So there you have it. Careful if you have certain holds on certain accounts and are under the impression all will work out. Live and learn...
On a more positive note, I paid off my last derog and FAKO TU went up 50 points while EQ went up 60!!
Lastly, I'm 99% certain my NFCU account was approved but i won't know for sure until after my business trip to recieve my welcome packet
And so it begins
Thanks for stopping by,
Pico
First update:
A bit of a learning curve here...
On April 2nd, I noticed i had some fraudulent activity on 1 of my checking accounts so I called it in, had a claim filed, and placed a hard hold on any accounts that have checking capapbility, for what i thought was only paper checks (the source of fraud), but...
Yesterday, 5/21, I noticed Discover hadn't removed funds yet for my secured card. I called them to ask about the process and length of time and they informed me that they attempted the transfer the day before, 5/20, and to call my institution. I called WF and informed them of the situation and they said they saw the attempt and blocked it because of the hold placed on the account. I didn't argue and had them lift the hold until Discover and company can get their funding for my new accounts, but i thought it was strange since i have another account, with a hard hold, that has ACH passing throught it.
I called Discover back and explained what happened and to feel free to attempt the ACH again, and when they tried to do whatever it was they tried to do, their system threw an error out that couldn't be circumvented. My only option was to start the process over, by filling out another application with the potential for another HP or possibly use the file that was last pulled.
So, i followed through with another app, but this time I was denied! I called it in, and the CSR was quick to understand and was able to make it approved in literally no time, but i did, in fact, incur another HP 
Unsettled by the hold debaucle, I called WF back as to why 1 of 2 accounts, both with the same hold, could have one pass ACH and another not. After 3-4 hours of departmental musical chairs, it was explained to me that the lost/stolen hold i had placed would affect new ACH transfers and let previous reoccuring ones pass.
So there's my homework for anyone that it may be applicable for
On a more positive note:
The last of my derog's was paid off and posted to my credit report exceptionally quick (within a week). Though it's only FAKO, my TU went up 49 points and EX went up 59, but I have to few accounts and history to get a real score to populate.
Lastly, I decided on the NFCU SSL loan as opposed to the self lender, and applied through a family veteran. I'm 99% certain i'm approved, but won't be able to know for sure until inside June after a business trip.
And so it begins
/train
Thanks for stopping by!
PicoFico
Honestly I would be looking for a new bank facility for checking if WF is actually Wells Fargo, I would never have a dime on deposit with that organization. There is no reason for a "hard" hold on anything. You might even consider multi banks for checking it can solve a lot of problems should this happen again.
@gdale6 wrote:
Honestly I would be looking for a new bank facility for checking if WF is actually Wells Fargo, I would never have a dime on deposit with that organization. There is no reason for a "hard" hold on anything. You might even consider multi banks for checking it can solve a lot of problems should this happen again.
It is Wells Fargo and I do agree with your assessment. The hard hold was my solution as opposed to closing the accounts and reopening new (if the suspect had more than one check it wouldn't be able to be processed that way).
At the moment, all too many bills filter through that account until a new one is opened (NFCU) . So I can't truly blame WF for the mishap, but they could have done a better job explaining the repercussions.
Also, I travel globally for work, so a major bank is a bit reassuring until I have credit to support a mom and pop style institution, but more ammo for your argument...
I was in China for work once, and they shut down my only card because it was used at a merchant who was flagged something nefarious. There I was, dead in the water, in a foreign country. Luckily a Co worker was able to support the duration of our stay.
I look forward to the time when I can transition out from them.
Edit:
Just got my welcome email to NFCU
So I have 2 things left on my credit report that are negatively affecting me. 1) a WF secured card with late payments from 2014 and 2) a collection account for ATT held by Diversifed Consultants, Inc.
Before finding this forum and knowing much about anything credit wise, i called dci after seeing it on credit karma and PIF the balance (looking back i'm not sure that was the best plan, but it's too late now). I was told by DCI they'd remove the account from the CRA's after a month. Here we are a 5 weeks later and it's still reporting so i called them last night and they said that isn't something they do and, moreover, ATT has reaquired the account. What?
Today I called ATT collections and had a conversation with a gentlemen there and the best i can tell after explaining my situation and listening to him type for 5-10 minutes was that he said he made the account appear as though it was in good standing, pif, closed and never release to collections. I asked if he could send anything via email but said it wasn't possible.
Is this an actual possibility? Would it force the collection account on my file with the CRA's to be expunged assuming any of this materializes?
I suppose wait and see what happens yea?
Thanks for stopping by,
PicoFico